TOCON
ActiveSummary
TOCON has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.2m and a net result of €46,766. Equity remains stable across the filed financial years (±1% per year). Its solvency ranks better than 76% of 3,854 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, full format
Turnover
€340,000▲ 36.0%
2024 · €250,000
EBIT margin
21.6%▲ 2.4pp
2024 · 19.2%
Net result
€46,766▲ 143%
2024 · €19,257
Working capital
€100,953▲ 2.2%
2024 · €98,827
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 53% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€0.3m
2025
Operating result€0.07m
2025
Net result€0.05m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.4m
2025
Equity€1.2m
2025
Debt€0.3m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.1m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin21.6%
2025
Return on assets (ROA)3.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency82.4%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio5.23
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.2m-€0.2m▼ 4.6%€0.2m▼ 3.0%€0.2m=€0.02m▼ 88.9%€0.2m▲ 12×€0.3m▲ 2.3%€0.3m▲ 36.0%
Operating result€0.02m-€0.01m▼ 21.5%€0.02m▲ 49.6%€0.02m▲ 7.1%€0.04m▲ 54.3%€0.05m▲ 43.0%€0.05m▼ 7.0%€0.07m▲ 53.3%
Net result€299-€399▲ 33.4%€0.01mwithin the sector's middle half▲ 28×-€0.02mbelow the sector's middle half€0.02mwithin the sector's middle half€0.03mwithin the sector's middle half▲ 49.7%€0.02mwithin the sector's middle half▼ 26.6%€0.05mwithin the sector's middle half▲ 143%
EBIT margin9.5%-7.9%▼ 1.7pp12.1%▲ 4.3pp13.0%▲ 0.9pp180.3%▲ 167.3pp21.1%▼ 159.2pp19.2%▼ 1.9pp21.6%▲ 2.4pp
Equity€1.1m-€1.1m=€1.1mwithin the sector's middle half▲ 1.0%€1.1mwithin the sector's middle half▼ 2.1%€1.1mwithin the sector's middle half▲ 1.6%€1.1mwithin the sector's middle half▲ 2.4%€1.1mwithin the sector's middle half▲ 1.7%€1.2mwithin the sector's middle half▲ 4.1%
Total assets€1.4m-€1.4m▼ 0.8%€1.3mwithin the sector's middle half▼ 0.4%€1.3mwithin the sector's middle half▼ 0.7%€1.4mwithin the sector's middle half▲ 2.7%€1.5mwithin the sector's middle half▲ 7.6%€1.5mwithin the sector's middle half▼ 0.2%€1.4mwithin the sector's middle half▼ 2.1%
Debt€0.3m-€0.3m▼ 4.0%€0.2m▼ 6.4%€0.3m▲ 5.9%€0.3m▲ 7.2%€0.4m▲ 28.2%€0.3m▼ 6.2%€0.3m▼ 23.5%
Working capital€0.03m-€0.04m▲ 53.9%€0.04mwithin the sector's middle half▼ 17.3%€0.03mwithin the sector's middle half▼ 11.7%€0.06mwithin the sector's middle half▲ 88.0%€0.07mwithin the sector's middle half▲ 17.4%€0.1mwithin the sector's middle half▲ 37.9%€0.1mwithin the sector's middle half▲ 2.2%
Solvency80.2%-80.8%▲ 0.6pp82.0%above the sector's middle half▲ 1.2pp80.8%above the sector's middle half▼ 1.2pp79.9%above the sector's middle half▼ 0.8pp76.1%within the sector's middle half▼ 3.8pp77.5%within the sector's middle half▲ 1.4pp82.4%above the sector's middle half▲ 4.9pp
Current ratio1.75-2.72▲ 0.972.46within the sector's middle half▼ 0.262.51within the sector's middle half▲ 0.053.02within the sector's middle half▲ 0.512.25within the sector's middle half▼ 0.773.33within the sector's middle half▲ 1.085.23above the sector's middle half▲ 1.90
Return on assets (ROA)0.0%-0.0%=0.8%within the sector's middle half▲ 0.8pp-1.8%below the sector's middle half▼ 2.6pp1.3%within the sector's middle half▲ 3.0pp1.8%within the sector's middle half▲ 0.5pp1.3%within the sector's middle half▼ 0.5pp3.2%within the sector's middle half▲ 1.9pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€1.3m ▼ 1.1%
Current assets
€124,827 ▼ 11.6%
Equity and liabilities €1.4m
Equity
€1.2m ▲ 4.1%
Debt
€253,544 ▼ 23.5%
Debt's share of the balance-sheet total falls from 22.5% to 17.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€88,358▲
2024 · €62,811
Cash flow
€61,630▲
2024 · €34,121
Debt to equity
0.21▼
2024 · 0.29
ROE
3.9%▲
2024 · 1.7%
Interest coverage
5.02▲
2024 · 2.85
Debt ≤ 1 year
€23,874▼
2024 · €42,354
Debt > 1 year
€229,670▼
2024 · €289,173
Income taxes
€9,139▲
2024 · €6,645
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €194,600 | €185,600 | €180,000 | €180,000 | €20,000 | €244,384 | €250,000 | €340,000 | ▲ 36.0% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €153,157 | €160,806 | €182,793 | €183,688 | €248,103 | ▲ 35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,011 | €13,011 | €616 | €1,232 | €1,232 | €7,432 | €14,864 | €14,864 | = |
| Other operating charges640/8 | - | - | - | €2,243 | €1,902 | €2,598 | €3,501 | €3,539 | ▲ 1.1% |
| Gross operating margin9900 | €35,155 | €30,764 | €25,141 | €26,843 | €39,194 | €61,591 | €66,312 | €91,897 | ▲ 38.6% |
| Operating profit (loss)9901 | €18,572 | €14,583 | €21,822 | €23,368 | €36,060 | €51,561 | €47,947 | €73,494 | ▲ 53.3% |
| Financial charges65/66B | - | - | - | €42,645 | €9,784 | €15,376 | €22,045 | €17,589 | ▼ 20.2% |
| Recurring financial charges65 | €13,682 | €13,819 | €9,391 | €42,645 | €9,784 | €15,376 | €22,045 | €17,589 | ▼ 20.2% |
| Profit (loss) for the period before taxes9903 | €4,890 | €764 | €12,431 | -€19,277 | €26,276 | €36,185 | €25,902 | €55,905 | ▲ 116% |
| Income taxes67/77 | €4,591 | €365 | €1,128 | €4,269 | €8,747 | €9,948 | €6,645 | €9,139 | ▲ 37.5% |
| Profit (loss) for the period9904 | €299 | €399 | €11,303 | -€23,546 | €17,529 | €26,237 | €19,257 | €46,766 | ▲ 143% |
| Profit (loss) for the period to be appropriated9905 | €299 | €399 | €11,303 | -€23,546 | €17,529 | €26,237 | €19,257 | €46,766 | ▲ 143% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.4m | €1.4m | €1.3m | €1.3m | €1.4m | €1.5m | €1.5m | €1.4m | ▼ 2.1% |
| Fixed assets21/28 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | ▼ 1.1% |
| Tangible fixed assets22/27 | €0.01m | - | €0.003m | €0.002m | €0.001m | €0.07m | €0.05m | €0.04m | ▼ 28.6% |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.001m | - | - | - | - |
| Leasing and similar rights25 | - | - | - | - | - | €0.07m | €0.05m | €0.04m | ▼ 28.6% |
| Financial fixed assets28 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Current assets29/58 | €0.07m | €0.07m | €0.06m | €0.05m | €0.09m | €0.1m | €0.1m | €0.1m | ▼ 11.6% |
| Amounts receivable within one year40/41 | €0.04m | €0.06m | €0.04m | €0.04m | €0.05m | €0.1m | €0.1m | €0.09m | ▼ 24.8% |
| Trade receivables40 | - | - | - | €0.04m | €0.05m | €0.1m | €0.1m | €0.09m | ▼ 24.1% |
| Other amounts receivable41 | - | - | - | - | - | - | €0.001m | - | - |
| Cash at bank and in hand54/58 | €0.03m | €0.009m | €0.02m | €0.01m | €0.04m | €0.02m | €0.02m | €0.03m | ▲ 65.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 8.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.4m | €1.4m | €1.3m | €1.3m | €1.4m | €1.5m | €1.5m | €1.4m | ▼ 2.1% |
| Equity10/15 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.2m | ▲ 4.1% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €1.0m | €1.0m | ▲ 4.8% |
| Amounts payable17/49 | €0.3m | €0.3m | €0.2m | €0.3m | €0.3m | €0.4m | €0.3m | €0.3m | ▼ 23.5% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.2m | ▼ 20.6% |
| Financial debts170/4 | - | - | - | €0.2m | €0.2m | €0.3m | €0.3m | €0.2m | ▼ 20.6% |
| Amounts payable within one year42/48 | €0.04m | €0.03m | €0.03m | €0.02m | €0.03m | €0.06m | €0.04m | €0.02m | ▼ 43.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €151 | - | €0.01m | €0.01m | €0.01m | ▲ 4.1% |
| Trade debts44 | €0.02m | €0.01m | €0.02m | €0.02m | €0.02m | €0.04m | €0.02m | €0.007m | ▼ 70.5% |
| Suppliers440/4 | - | - | - | €0.02m | €0.02m | €0.04m | €0.02m | €0.007m | ▼ 70.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.003m | €0.007m | €0.004m | €0.004m | €0.002m | ▼ 44.5% |
| Taxes450/3 | - | - | - | €0.003m | €0.007m | €0.004m | €0.004m | €0.002m | ▼ 44.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €299 | €399 | €11,303 | -€23,546 | €17,529 | €26,237 | €19,257 | €46,766 | ▲ 143% |
| + Depreciation and write-downs630 | €13,011 | €13,011 | €616 | €1,232 | €1,232 | €7,432 | €14,864 | €14,864 | = |
| Operating cash flow (approximation) | €13,310 | €13,410 | €11,919 | -€22,314 | €18,761 | €33,669 | €34,121 | €61,630 | ▲ 80.6% |
| Investment in fixed assets (approximation) | - | €0 | -€3,697 | €0 | €1 | -€73,703 | €0 | -€1 | - |
| Change in cash | - | -€18,708 | €8,643 | -€2,281 | €21,248 | -€17,167 | €1,151 | €13,190 | ▲ 11× |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 26-06-2026 | 2026-00203814 |
| 31-12-2024 | abbreviated format | 12-06-2025 | 2025-00133630 |
| 31-12-2023 | abbreviated format | 31-05-2024 | 2024-00103055 |
| 31-12-2022 | abbreviated format | 01-06-2023 | 2023-00101648 |
| 31-12-2021 | abbreviated format | 21-06-2022 | 2022-20076634 |
| 31-12-2020 | abbreviated format | 24-06-2021 | 2021-23400147 |
| 31-12-2019 | abbreviated format | 16-06-2020 | 2020-16900219 |
| 31-12-2018 | abbreviated format | 03-06-2019 | 2019-15200183 |
| 31-12-2017 | abbreviated format | 31-05-2018 | 2018-14500091 |
| 31-12-2016 | abbreviated format | 02-06-2017 | 2017-14200312 |
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Of the 82,511 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 54,625. 26,196 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.